Hobby vs Business – What’s The Difference?

Hobby vs Business – What’s The Difference?

A  subject that comes up quite often at Anderson, when helping set up entities for clients, is clarifying the difference between a hobby vs business. What exactly differentiates the two? While it may seem like a trivial matter, the IRS has very clear rules about what...
C vs S Corporation

C vs S Corporation

The C Corporation versus the S Corporation Why Would Anyone Use a C-Corporation? John is a real estate investor who is wholesaling and flipping properties.  He is in the beginning stages of his business and some attorney says to create something called a...